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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Budding New Jersey Entrepreneurs: Is Franchise for You?

With the economy rebounding, many budding entrepreneurs are starting to explore new business opportunities again. For those who are not quite ready to jump back in feet first, a franchise may be the way to go. A franchise is a legal relationship between the owner of brand (a trademark, service mark, trade name, etc.) and […]

Author: Joel N. Kreizman

June 6, 2013

New York Health Company Filed for Bankruptcy

New York-based Sound Shore Health System has filed for bankruptcy law protection under Chapter 11 of the Bankruptcy Code and announced its plans to sell its assets to Montefiore Medical Center. The company, which provides health care services to its medical center in Westchester as well as a hospital and nursing home facility, cited cuts in […]

Author: Joel R. Glucksman

June 6, 2013

Chapter 11

Is Income Tax Planning Now More Important Than Estate Tax Planning?

Two changes to federal estate tax law suggest that income tax planning may become more important than estate planning for most taxpayers. First, the $5,250,000 federal estate tax exclusion (the “Exclusion”) is permanent. Thus, most estates will not be subject to federal estate tax now that the Exclusion is law. A married couple may pass […]

Author: James F. McDonough

June 6, 2013

Income Tax

Faltering on Estate Planning Can Lead to Thorny Wealth Transfer Issues

Most business owners and affluent Americans were pleased when lawmakers announced the $5.25 million – or $10.5 million for couples – estate tax exemption. Many middle-income individuals or local business owners may have put off estate planning strategies, thinking that they will never accrue or pass on enough wealth to meet the new thresholds. However, estate planning […]

Author: Frank L. Brunetti

June 5, 2013

Tax Planning

Third Circuit Sets Ground Rules for Compelling Arbitration

During a contract dispute, the parties often disagree about whether the terms of the agreement require them to arbitrate. Not surprisingly, many of these disagreements end up in court. The Third Circuit Court of Appeals recently clarified the standard for deciding motions to compel arbitration. It specifically articulated the circumstances under which district courts should […]

Author: Robert E. Levy

June 5, 2013

New Jersey's Revel Casino Exits Bankruptcy Protection

Atlantic City, New Jersey casino Revel AC, Inc. has formally emerged from bankruptcy protection after struggling to overcome heavy operating losses incurred during its first year of operations. The company said it has completed its restructuring under the terms set forth by its Chapter 11 plan. The restructuring plan that was approved by both the […]

Author: Joel R. Glucksman

June 4, 2013

New Foreclosure Rules for Vacant Properties in NJ

It will now be easier for lenders to foreclose on abandoned properties in New Jersey. The changes are the result of new legislation and relaxed court rules. Legislation signed into law in December, N.J.S.A. 2A:50-73, provides for a summary procedure for foreclosure of vacant or abandoned residential properties. It authorizes a court to deem a […]

Author: Robert A. Marsico

June 4, 2013

Nike Ends Relationship With Livestrong in Wake of Armstrong Doping Investigation

Nike has announced that it will sever ties to cancer charity foundation Livestrong and cease to manufacturer its products to further distance itself from disgraced cyclist and the charity’s founder Lance Armstrong in the wake of the doping investigation. The company failed to disclose the full terms of its decision, but said that it will […]

Author: Anthony R. Caruso

June 3, 2013

Lance Armstrong

Lawmakers Encourage IRS to Focus Attention on Payroll Services Fraud

Many small businesses seeking to improve efficiency and ensure compliance with U.S. tax law outsource their payroll services to third-party providers. These companies typically manage online payroll processing for workers and employee payroll tax filing, giving business owners more freedom to focus on their operations. However, payroll tax fraud is an increasingly common tax law […]

Author: Frank L. Brunetti

June 3, 2013

U.S. Supreme Court to Take Up Class Actions Again

Class-action lawsuits continue to dominate the U.S. Supreme Court’s business docket. The justices recently agreed to consider Mississippi v. AU Optronics Corp. The case involves price-fixing allegations by the Mississippi Attorney General against several electronics companies regarding the sale of liquid-crystal displays. The attorney general filed the lawsuit in state court and seeks to keep […]

Author: Scarinci Hollenbeck, LLC

June 3, 2013

Battery Maker A123 Systems Wins Final Bankruptcy Approval

Failed battery maker A123 Systems wins final bankruptcy approval and will be permitted to move forward with its reorganization plan, a U.S. bankruptcy judge ruled. U.S. Bankruptcy Judge Kevin Carey approved the company’s plan to exit bankruptcy after using the proceeds from its asset sales to repay its creditors. The battery manufacturer, now named B456 Systems, faced several […]

Author: Joel R. Glucksman

May 31, 2013

IRS Budget for 2014 Focuses on Increasing Manpower to Ensure Tax Compliance

The ramifications of the sequester may have an impact on the Internal Revenue Service’s ability to effectively audit potential tax law violators. In response, the agency is shoring up its 2014 budget to avoid auditing and compliance disruptions. According to Fox Business, the IRS will decrease its customer service departments and operations by 1 percent and instead redistribute […]

Author: Frank L. Brunetti

May 31, 2013

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